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Wednesday More Likely to Take Cues From Econ Data

11/4/2025 3:49 PM

Wednesday More Likely to Take Cues From Econ Data Bonds benefited from heavy stock selling late in the overnight session. This is not the typical pattern seen these days, but it"s not uncommon to see some positive spillover into bonds when stock losses are sharp enough. In any event, it"s not something to c...Read More

Mortgage Rates Hold Steady Near Recent Highs

11/4/2025 3:33 PM

The average top tier 30yr fixed mortgage rate was technically 0.01% higher than yesterday, but that"s the smallest possible detected move.  It"s just as fair to say rates held steady today. While it"s always nice to avoid a more serious rate spike on any given day, by holding flat, rates are remaining in line with their highest levels in just...Read More

Correspondent and Wholesale News; CUs and Realtors, Borrower Engagement Tools; Regulatory Readiness

11/4/2025 10:44 AM

“Being a parent is like being a psychic who is always right but is always ignored.” Here in Austin, TX, whether it was the Texas Women Mortgage Bankers’ Fall Social with Faith Schwartz and Alanna McCargo last night or the TMBA’s Housing Summit speakers today, no one is ignoring anything. No lender can ignore the shutdown, and anyone who believes th...Read More

Heavy Selling in Stocks Providing Small Boost For Bonds

11/4/2025 8:53 AM

It doesn"t always work like this, but today"s overnight session saw the classic "conventional wisdom" trade with stocks prices and bond yields falling in concert. Believe it or not, this is the exception these days. In fact, since late May, stocks and bonds have generally been rallying together. Contrast that to the conventional wisdom trade i...Read More

Light Volatility After Initial Losses

11/3/2025 3:00 PM

Light Volatility After Initial Losses The first day of the new month began with some potential excitement, albeit not the good kind. A corporate bond offering from Alphabet pushed yields quickly higher just before 8am. Lackluster results in the ISM Manufacturing data helped push back in the other direction,...Read More

Highest Rates in Just Over 3 Weeks

11/3/2025 2:32 PM

Up until last week"s Fed announcement, the average 30yr fixed mortgage rate was at the lowest levels in more than a year (in many cases, matching the same lows seen on September 16th--the day before the previous Fed announcement). Although these past 2 post-Fed episodes have resulted in somewhat volatile bounces, rates are still far closer to long...Read More

Non-QM, 2nds, Marketing Products; Deep Dive on "Data-Less" Capital Markets

11/3/2025 10:45 AM

“Daylight savings time: Is the government cutting off the bottom of a blanket and sewing it to the top and saying, ‘See? Its longer now.’” Here in Austin, TX, Texas Women Mortgage Bankers’ Fall Social and TMBA’s Housing Summit agenda are full of speakers (not from, but…) discussing the U.S. Government’s role in housing and finance, as well as our F...Read More

Weaker Start Despite Modest Boost From ISM Data

11/3/2025 10:03 AM

Bonds were moderately weaker in the overnight session with most of the selling arriving at 7:56am ET when Alphabet filed for a large corporate bond offering, estimated at $15bln. Corporate bond issuance puts upward pressure on rates in several ways and there"s almost always an immediate pop when a new, large deal (like this morning"s) is announced....Read More

Sideways Overall Despite Hawkish Fed Speakers

10/31/2025 2:53 PM

Sideways Overall Despite Hawkish Fed Speakers Although there was some mid-day volatility (early buying followed by slower selling back to roughly unchanged territory), that movement was more in line with month-end tradeflows than any interesting, specific motivations. Nonetheless, there were interesting, sp...Read More

Mortgage Rates Recover Some of This Week"s Lost Ground

10/31/2025 2:43 PM

After hitting the highest level in several weeks on Thursday, mortgage rates managed to move moderately lower on Friday. Counterpoint: Friday"s rates are still the 2nd highest of the past 2 weeks and still meaningfully higher than last Friday"s (6.28% vs 6.19% in terms of MND"s rate index). The improvement makes it clear that lenders were setting ...Read More

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